Examlex
_____ refers to a rock's appearance with respect to the size, shape, and arrangement of its grains or other constituents.
Net Income
A company's remaining earnings after deducting all expenses and taxes from its revenue.
FIFO Method
An inventory valuation method that assumes the first items placed in inventory are the first sold.
Balance Sheet
The balance sheet is a financial statement that shows a company’s financial position by detailing its assets, liabilities, and shareholders' equity at a specific point in time.
LIFO
Last-In, First-Out, an inventory valuation method where the goods purchased last are the first to be sold.
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